SPX: Short term view
Updated
The market is awaiting the news on Wednesday.
I expect the market to remain sideways for the most part, so I'll look to trade each swing in the short term.
After FOMC we might have a longer lasting directional move, up or down.
For the most part, it's possible to confirm a big uptrend if by the end of October we don't retest the 2100 level.
If on the other hand we do, I'll watch price action to time the perfect long entry after the drop.
Good luck next week, trade safely.
Cheers,
Ivan Labrie.
I expect the market to remain sideways for the most part, so I'll look to trade each swing in the short term.
After FOMC we might have a longer lasting directional move, up or down.
For the most part, it's possible to confirm a big uptrend if by the end of October we don't retest the 2100 level.
If on the other hand we do, I'll watch price action to time the perfect long entry after the drop.
Good luck next week, trade safely.
Cheers,
Ivan Labrie.
Note
We're above resistance, now we need to see if we hit 2172+ today before the close. If we do, odds are SPX can rally further, possibly even making new all time highs (but we need to be careful with the upcoming news though).Note
Up we go.
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